“Worldwide, more than 400 million new jobs will be needed over the next decade. That means that policy-makers must get serious, now, about generating decent employment,” said Secretary-General Ban Ki-moon at the high-level thematic debate on The State of the World Economy and Finance and its Impact on Development, held on 17 May. “It is time to recognize that human capital and natural capital are every bit as important as financial capital,” he added.
The event lasted two days and was organised around four thematic roundtable discussions, each focusing on different issues, such as combating unemployment, debt sustainability and managing inflation, improving trade and investment, and increasing transparency and predictability in the financial sector. It was organised to attract heads of governments, finance ministers, as well as heads of organizations, regional and central banks, so that they can share experience and offer views on ways to resolve the economic crisis and improve global financial situation. Set up as an informal setting, the high-level debate encouraged a lively exchange of differing ideas on global economic and financial issues. “Let us face the facts: the old model is broken. We need to create a new one – a new model for dynamic growth,” said Ban Ki-moon.